California’s Most Budget-Friendly Cities See Highest Rent Growth
California’s housing affordability crisis is starting to affect residents in the state’s inland cities, which have traditionally been seen as more affordable than coastal metros. Rent prices in cities like Bakersfield, Fresno, Visalia, and Riverside have surged by up to 40% in just three years, according to data from Zillow.
While these cities still offer lower rent compared to the Bay Area or Los Angeles, they have witnessed the most significant rent increases statewide. This sudden rise in housing costs is placing added pressure on lower-income residents who have relied on these areas for more affordable living.
For example, both Bakersfield and Los Angeles have seen average rent increases of a little over $500 since the start of the pandemic. However, because Bakersfield’s rents were significantly lower to begin with, that $500 increase has a much more significant impact on residents.
The average income in Kern County, where Bakersfield is located, is approximately $25,000, based on the latest US Census data. In contrast, the average resident in Los Angeles County earns about $38,000. This income disparity highlights the challenges faced by lower-income individuals and families in Bakersfield and similar cities as housing costs continue to rise.
While these inland cities may still offer more affordable housing options compared to coastal regions, the rapid increase in rent prices is eroding the cost-saving benefits they once provided. This situation underscores the pressing need for comprehensive and sustainable solutions to address California’s housing affordability crisis, ensuring that residents across the state have access to affordable and stable housing options.
